This blog post will provide you the details of top 10 electric two-wheeler sold In 2023.
The advancement in technology and decreasing cost of production have ultimately grown the market for electric vehicles. The electric vehicles market will grow continuously as manufacturers focus on improving challenges in the EV industry. India has actively participated in the transition from fossil fuels to green energy. The sales of electric two-wheelers kicked into high gear in 2023, crushing all previous records. Sustainability is a vital part of electric vehicles, as it focuses on climate protection. It is a vital factor for long-term competitiveness. Not just startups, but traditional two-wheeler companies like TVS and Bajaj have joined the EV market and introduced new electric vehicles to raise the level of competition.
New models are ready to launch, and manufacturing companies are scaling up their capacity. Analysts estimate that electric vehicles sale will surely swell up in the next year too. To achieve the target of zero emissions, the nation is consistently working on it, and consequently, you can see huge growth in electric two-wheeler sales in 2023. So, charge up to yourself and be ready to observe the electric vehicles revolution across the nation.
Let us move ahead to see the year-on-year growth of the top 10 electric scooter companies in India
Top 10 Electric Two-Wheeler Sold In 2023
1. Ola Electric
Ola Electric set a record by achieving the top position in the sales of electric two-wheelers. In the festive month of November, the company sold 29,808 electric two-wheelers, beating its previous-month record of 23.664 units. The company sold a total 1,09,282 units in 2022 and exhibited essential growth by selling 2,65,995 units in 2023. With a stunning growth rate of 143%, Ola Electric solidifies its position as an evolving player in the EV sector. The company claimed a remarkable 31% market share in 2023.
Ola had introduced new variants of affordable electric scooters, such as the Ola S1 and Ola S1 Air. Additionally,the company launched the S1 Pro Gen2. S1 Pro Gen2 offers a three-year or 40,000-kilometre battery warranty. Its app notifies to user for low battery alerts, geo-fencing, etc. The Ola S1 and Ola S1 Air both have smart phone connectivity, LED headlights, OTA updates, etc.
2. TVS Motor
TVS Motor Company Ltd. secured second place with impressive growth in 2023 compared to 2022. In the month of October, the company sold 16,340 two-wheelers and 18,935 units in November. The company sold a total of 47,885 units in 2022, followed by 1,66,287 units in 2023. TVS Motor showcased a remarkable 247% yearly growth that shows its fundamental progress in the market for electric vehicles. Furthermore, the company achieved a 19% market share in 2023.
With the launch of the TVS-X, TVS Motor secured its commendable position not only in India but also on an international level. It is comfortable and provides the perfect balancing ride. It is available only in a single red colour.
3. Ather Energy
Securing the third position in the top 10 sales of electric vehicles, Ather Energy, one of the most successful Bangalore-based startups, displayed a noteworthy performance in 2023. In 2022, the company sold 51,773 units, showing exemplary growth in 2023 by selling 1,04,514 units. Ather Energy achieved 102% year-on-year growth. Additionally, the company claimed a 12% market share.
Arther Energy launched the Ather 450 Plus and Ather 450 X electric two-wheelers. Arthur 450 Plus is the advanced version of Arthur 450. It offers 4G connectivity and other advanced features.
4. Bajaj Auto
With its remarkable performance in 2023, Bajaj Auto, whose CEO is Rajiv Bajaj, secured fourth position in selling electric two-wheelers. The sales of 76,627 units in 2023 show a 203% growth rate year-on-year compared to the sales of the previous year, which were 25,315 units. It shows the substantial progress of the company in the electric vehicle market. Bajaj Auto managed a market share of 9% in 2023.
5. Ampere Vehicles
Ampere Vehicles, led by Hemalatha Annamalai, got fifth position in 2023, but the company shows a decrease in sales. In 2022, the sold units of vehicles were 81,942, but in 2023, it slowed down, with sales of 67,041 units. The year-on-year growth of the company was -18%. Ampere commanded a market share of 8%, showing that the company needs to follow some market strategies to boost the sale of electric vehicles.
The company launched Ampere Primus and updated Ampere Zeal EX electric two-wheelers. Ampere Primus is available in four colours: Himalayan White, Havelock Blue, Buck Black, and Royal Orange. The two-wheeler has advanced features like digital instrumental clusters, Bluetooth connectivity, etc. The updated Zeal EX is available in three colours and offers multiple ride modes.
6. Okinawa Autotech
Okinawa Autotech, led by Jeetendra Sharma, also demonstrated a huge decrease, like Ampere Vehicles, in one year, yet it succeeded in securing sixth position. In 2022, the company sold 1,03,549 units, whereas in 2023, the data shows a decrease with the reported sales of 31,613 units. The data represents year-on-year growth of -69%, showing a vast decline in sales. To amplify the sales of electric vehicles, the company needs to focus on product creativity, how to engage customers, and upgrading market strategies. With a 4% market share, the company faces challenges in a dynamic market for electric vehicles.
Okinawa Autotech launched the Okhi-90, an electric scooter. Although it is a costly electric scooter, its attributes make it worth buying. The electric scooter has an all-LED lighting system. Its other remarkable features include an underseat USB charging port, huge underseat storage, smartphone connectivity, and many more.
7. Hero Electric Vehicles Private Limited
Although Hero Electric Vehicles Private Limited secured seventh place in the sales of two-wheelers, it illustrates a massive decrease compared to the previous year. The owner of the company is Sohinder Singh Gill. The company sold 98,939 units in the previous year and 29,800 units in 2023, which exhibits a -70% growth year-on-year. With just 3% of market share, Hero Electric needs to change this cycle, and the company earnestly needs to modernize the overall business strategies and vehicle launch plans to surpass sales expectations. Only then can the company regain competitiveness in the electric vehicle market.
Hero Electric launchedthe Vida V1 electric two-wheeler, which is available in two variants: the Vida V1 Plus and the Vida V1 Pro. They are available for Rs. 1,45,000 and Rs. 1,59,000, respectively (prices may vary accordingly). These electric scooters are highly versatile and provide good speed.
8. Okaya EV
Okaya EV secured eight positions in the total sales of electric two-wheelers in 2023. The company shows year-on-year growth of 77%, as it sold 8,913 units in 2022, ahead of 15,786 units in 2023. Okaya EV needs to take further impressive steps to enhance its position in the top 10 electric two-wheeler sales. With only 2% of the market share, the company may need to refurbish its strategy to excel in the sales of the two-wheeler and be successful in achieving impressive sales figures in the coming time.
Okaya EV launched the electric scooter Motofaast Scoobike and Okaya Faast. Okaya Faast is available in two variants, such as the Okaya Electric Faast F3 and the Okaya Electric Faast F4. Okaya Fast offers a 3-year battery and vehicle warranty. The Motofaast Scoobike is also available in multiple colours and equipped with advanced features.
9. BGauss Auto
BGauss, led by Hemant Sharma, secured ninth place in the sale of two-wheelers. BGauss Auto reported sales of 11,424 units in 2023, showing a significant increase from the 1,983 units in 2022. It showcases the remarkable effort of the company to boost sales. With a sign of 476% year-on-year growth, the company indicates its advancement in the electric vehicle market. It shows that the company has taken proactive steps that would surely be helpful to raise its position in the future. However, BGauss holds a market share of only 1%.
Bgauss Auto launched the BGauss C12i Max and BGauss D15. The flat seat with underseat storage of the BGauss C12i Max is quite impressive. It has smartphone connectivity with app features that show battery information, post-ride status, etc.
10. Hero MotorCorp
Hero MotorCorp is successful in holding tenth position and reported sales of 11,082 units in 2023, compared to only 182 vehicles in 2022. It shows its magnificent progress compared to other companies. With a year-on-year growth of 5989%, the company showed its commendable efforts, and surely it will be helpful to achieve a better position. Like BGuass, Hero Motor’s market share stands at only 1%.
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Conclusion
In a nutshell, the electric two-wheeler market in 2023 showcased stunning progress compared to the previous year. Some companies were successful in achieving the same place, like Ola Electric, which maintains its position, showing outstanding growth in sales of electric two-wheelers. The other companies like TVS Motors, Ather Energy, Bajaj Auto, Okaya EV, BGauss Auto, and Hero MotorCorp have presented themselves in a positive way and showed remarkable growth in year-on-year sales. On the other side, Hero Electric, Okinawa Autotech, and Ampere Vehicles demonstrated a decrease in their sales. They need to place more emphasis on the use of their technology and business strategies to move ahead in this dynamic industry.
